President Joe Biden and Vice President Kamala Harris, who is also the Democratic nominee for the upcoming presidential election, have announced a historic reduction in the prices of several essential medications.
This move is aimed at increasing the purchasing power of Americans, particularly those who rely on expensive prescription drugs.
In a statement released before their joint visit to Maryland, Biden and Harris revealed a landmark agreement that will slash the prices of 10 critical medications used to treat diabetes, blood clots, and heart conditions.
This announcement, made on Thursday, marks a significant step in the administration’s efforts to make healthcare more affordable for millions of Americans.
The price reductions are the result of months of negotiations between the federal Medicare program and pharmaceutical companies.
Beginning in 2026, this initiative is expected to save $1.5 billion for insured Americans aged 65 and older, and an additional $6 billion for taxpayers, according to the White House.
In other election-related news, the vice-presidential candidates, Republican J.D. Vance, and Democrat Tim Walz, have agreed to participate in a debate scheduled for October 1, just one month before the election.
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